Estate Counselors LLC Sells 5,890 Shares of Targa Resources Corp. (NYSE:TRGP)

Estate Counselors LLC lessened its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 33.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 11,962 shares of the pipeline company’s stock after selling 5,890 shares during the quarter. Estate Counselors LLC’s holdings in Targa Resources were worth $1,770,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. lifted its position in Targa Resources by 18.6% during the third quarter. Daiwa Securities Group Inc. now owns 38,723 shares of the pipeline company’s stock valued at $5,731,000 after purchasing an additional 6,077 shares during the period. Summit Trail Advisors LLC lifted its stake in Targa Resources by 10.3% in the 3rd quarter. Summit Trail Advisors LLC now owns 4,022 shares of the pipeline company’s stock valued at $595,000 after buying an additional 376 shares in the last quarter. Canopy Partners LLC acquired a new stake in Targa Resources in the 3rd quarter worth about $216,000. Kingsview Wealth Management LLC increased its stake in Targa Resources by 764.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 24,661 shares of the pipeline company’s stock worth $3,650,000 after buying an additional 21,807 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Targa Resources by 47.5% during the third quarter. Cerity Partners LLC now owns 28,899 shares of the pipeline company’s stock valued at $4,277,000 after acquiring an additional 9,307 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Targa Resources news, CAO Julie H. Boushka sold 3,260 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.74, for a total value of $621,812.40. Following the completion of the transaction, the chief accounting officer now directly owns 35,143 shares of the company’s stock, valued at approximately $6,703,175.82. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Muraro sold 2,500 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $146.20, for a total transaction of $365,500.00. Following the sale, the insider now directly owns 174,451 shares of the company’s stock, valued at $25,504,736.20. This represents a 1.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,760 shares of company stock worth $30,026,712. 1.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TRGP shares. UBS Group boosted their price objective on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada increased their price target on shares of Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. The Goldman Sachs Group lifted their target price on Targa Resources from $147.00 to $163.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Barclays lifted their price target on shares of Targa Resources from $155.00 to $171.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Bank of America began coverage on shares of Targa Resources in a research note on Thursday, October 17th. They set a “buy” rating and a $182.00 price target on the stock. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $176.50.

Targa Resources Stock Down 0.2 %

Shares of TRGP stock opened at $207.31 on Friday. The business’s fifty day moving average is $169.37 and its 200-day moving average is $144.15. The stock has a market cap of $45.21 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 0.82 and a beta of 2.24. Targa Resources Corp. has a 1 year low of $81.03 and a 1 year high of $209.87. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same quarter in the previous year, the company posted $0.97 earnings per share. Equities analysts expect that Targa Resources Corp. will post 6.23 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a $0.75 dividend. The ex-dividend date was Thursday, October 31st. This represents a $3.00 annualized dividend and a yield of 1.45%. Targa Resources’s dividend payout ratio (DPR) is 54.25%.

Targa Resources Company Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.